The Broach Lifecare Hospital's initial public offering which opened for subscription on Tuesday will conclude its subscription period on Friday. The IPO is a fixed-price issue valued at Rs 4.02 crores. The issue comprises a fresh issuance of 16.08 lakh shares, with no offer for sale.
The SME IPO was subscribed 8.73 times on Tuesday and 30.33 times on Wedneday.
Broach Lifecare Hospital IPO Day 3 Subscription Status
The IPO has been subscribed 58.67 times at 11:53 am. on Friday.
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Non-institutional buyers: 16.07 times
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Retail Investors: 101.26 times
Broach Lifecare Hospital IPO Details
The SME IPO opened for subscription from August 13. and will close on August 16. The allotment process is expected to be finalised by Monday, August 19. Shares from the Broach Lifecare Hospital IPO will be listed on the BSE SME platform, with the tentative listing date set for Wednesday, August 21.
The price band for the shares has been set at Rs 25 each. For retail investors, the minimum lot size for application is 6,000 shares, which amounts to an investment of Rs 150,000. High Net-Worth Individuals must apply for at least 12,000 shares, translating to a minimum investment of Rs 300,000.
Fedex Securities Pvt Ltd. is serving as the book running lead manager for the IPO, while Kfin Technologies Limited is the registrar for the issue. Aftertrade Broking is appointed as the market maker for Broach Lifecare Hospital IPO.
As per the company's red herring prospectus, 50% of the issue is reserved for retail investors and the remaining 50% for investors of others category (a category of eligible shareholders or other investors with a reserved quota in the IPO).
About Broach Lifecare Hospital Limited
Incorporated in 2023, Broach Lifecare Hospital Limited operates boutique hospitals under the brand name "Maple Hospitals." The company specialises in providing dedicated 24-hour services for patients with heart ailments. Their offerings include a range of non-invasive cardiology services such as 2D Echocardiography, Electrocardiography, Treadmill Tests, Holter Monitoring, Ambulatory Blood Pressure Measurement, Stress Tests, and Dobutamine Stress Echocardiography.
The flagship hospital in Bharuch boasts 25 ultra-luxury in-patient beds and is equipped with equipment including an Intra-aortic Balloon Pump Machine, Biphasic Defibrillator, and Ventilators. Broach Lifecare’s facilities are NABH-certified as small primary-level healthcare organisations. They have also received certification from the Atomic Energy Regulatory Board for their PACS System and a fire safety certificate from local regulatory bodies.
Broach Lifecare Hospital IPO: Use of Funds and Objectives
The company intends to use the net proceeds from the IPO for several key purposes including purchase of machineries to enhance their diagnostic and treatment capabilities. They also plan of using the funds to develop medical tourism web portal in order to attract and manage international patients. Remaining of the funds will go to for various corporate needs and operational improvements.
. Read more on IPOs by NDTV Profit.